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Resolution approving Budget Amendment Number 26.036 appropriating $25,294,527.52 in proceeds from the sale of DNA Way, Point San Bruno Boulevard, and a portion of Cabot Road to Genentech.
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WHEREAS, on June 25, 2025, the City Council approved the sale of DNA Way, Point San Bruno Boulevard, and a portion of Cabot Road to Genentech for a purchase price of $25 million; and
WHEREAS, the Purchase and Sale Agreement between the City and Genentech also required Genentech to reimburse the City for all expenses associated with preparing the Purchase and Sale Agreement, associated agreements, and completing the sale for a total expense of $94,527.52; and
WHEREAS, the Maintenance and Public Access License Agreement associated with the road sale required Genentech to prepay for five years of maintenance by the City of the roads sold to Genentech for a total amount of $200,000; and
WHEREAS, the City and Genentech closed escrow on November 21, 2025, and the $25,294,527.52 in sale proceeds were transferred to the City; and
WHEREAS, at a special meeting on October 29, 2025, the City Council directed staff to allocate the sale proceeds to the new Fire Station 63 at 71-73 Camaritas, replacing the existing Fire Station 63 located at 33 Arroyo except for up to $170,000 to address food insecurity brought about by the delay in SNAP benefits to South San Francisco recipients in early November 2025; and
WHEREAS, as approved by Council at its November 12, 2025 meeting, the food insecurity program costs were limited to $85,000; and
WHEREAS, the City now wishes to appropriate the Genentech road sale proceeds in accordance with the City Council's prior guidance as articulated at its October 29, 2025 special meeting, as well as the obligations set forth in the Maintenance and Public Access License Agreement.
NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of South San Francisco does hereby approve Budget Amendment Number 26.036 appropriating $25,294,5...
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